A Comparative Analysis of the Spending Patterns of Undergraduates Based on their Demographic Characteristics at Yezin Agricultural University, Myanmar

Abstract

Increasing expenses for students are becoming a major issue that has an impact on both their academic performance and daily life. The research aimed to explore a comparative analysis of the spending patterns of undergraduates based on their demographic characteristics to promote financial planning and support for student activities. The study’s participants were 470 undergraduate students from Yezin Agricultural University in Myanmar, who were selected using a proportionate stratified random sampling technique for the different education level of students. The study used descriptive and inferential statistics as statistical measures for data analysis. The average age of the students was 24.04 years, indicating that they represented a more mature age. The typical family size was five people, which could involve financial support. Most parents obtained a basic education, with the majority of students' fathers working in agriculture. The average monthly income of the parents was 1,040,000 MMK. Results also indicated the majority of students relied on parental allowances for financial support. In addition, students' income had no significant differences according to their parents' income, but there were significant differences according to their educational level. Furthermore, students' expenses had significant differences according to their educational level and income. It was recommended that educational institutions should develop and implement comprehensive financial literacy programs specifically for undergraduate students. Collaborating with community organizations to offer part-time employment opportunities may assist students in developing better financial management abilities and improving their overall well-being.